Frasers Centrepoint Limited (FCL) and Vietnam-listed developer An Duong Thao Dien Real Estate (ADTD) has formed a joint-venture company G Homes to jointly develop a residential-cum-commercial project in Ho Chi Minh City (HCMC). FCL has a 70% stake in G Homes through its subsidiary FCL Imperial, with the remaining 30% owned by ADTD and other existing shareholders.
The joint venture project will have a mix of condominiums, townhouses and villas, as well as serviced apartments and retail shops for sale
The project has an estimated total development cost of US$85 million (about $115 million) and is located in Thao Dien Ward, near the city’s first metro line, which is scheduled for completion in 2020. The area is also popular with expatriate families given its proximity to international schools such as the British International School, Australia International School and American School of Vietnam.
When completed, the joint venture project will have a mix of condominiums, townhouses and villas, as well as serviced apartments and retail shops for sale.